In business we endeavor, by industrious and intelligent use of our capital, to produce as the fruit of our efforts an annual return without impairing the capital—without touching the principle or jeopardizing it in any manner. In private enterprises, the man who assumes the headship of a business organization in which the funds of others are invested as capital, and who then makes a show of prosperity by drawing on that capital to pay what he represents as dividends, is charged with running a "get-rich quick" scheme, and in most States is, by law, held personally liable. I commend to your consideration the consistency of applying that principle where there is involved the capital of all the people—the Nation's resources. (Applause)
If we are a people in trade and mean to continue to be, and if our resources are our capital, can there be any doubt about the wisdom of handling that capital according to the rules of good business? Can there be any doubt where we as a Nation will land if we make annual inroads upon that capital; if we, in the management of the people's business, follow methods which in private affairs bring those responsible before the bar of justice?
We as a Nation take just pride in our business successes; we attribute them to the brains we put into our work, to the thoroughness with which we study what we do and what others have done that we may profit by experience. Is it not well for us thoughtfully to inquire whether the histories of any other nations record the handling of their resources on the "get-rich quick" plan, that we may see what has been the outcome? History is full of such instances; many of them have been pointed out by eminent advocates of this movement. I will therefore not attempt anything but passing reference to some of them. Volumes could be written from evidences found in the Valley of the Euphrates and of the Tigris, where stood the great Kingdom of Babylonia, the wonder of the ancient world; in the ruins of Palmyra and Palestine; in the Barbary States, once famed as the granary of Rome but now a howling wilderness, because the Mohammedans who conquered it neglected its natural resources; in the ruins of the Cities of the Sahara, whose crumbling courts bring to mind the words of Omar Khayyam—
They say the lion and the leopard keep
The courts where Jamshyd gloried and drank deep.
If we look to history for the other side of the picture—for instances where business prosperity has gone on without interruption as long as natural resources have been conserved and intelligently maintained—we find them so well defined as to lead to but one conclusion. This is illustrated in Germany where they have maintained the fertility of their soil for centuries. It produces more per acre today than it did many generations ago. Their great forest estates have remained intact; they have cut a crop of timber from them regularly every year, producing an annual income, but the capital—the forest estate—is greater and more valuable today than it was before our country was discovered. Fires have not destroyed their forests. They have long since learned the wisdom of applying, "an ounce of prevention," and fortunately have no "pork-barrel" to stand in the way. (Applause)
And we find in our own history many instances where great business enterprises have sprung promptly from efforts to intelligently develop the resources around us. The State of Illinois was passed over by the first settlers as a land of no opportunities. It is today, in productiveness and volume of business, one of the greatest States in the Union. In the States of Utah and Colorado vast areas formerly looked upon as barren and useless wastes, have been, by the intelligent handling of natural resources, made to produce annually wonderful crops of fruit and vegetables, the traffic in which has become a great commercial industry. The development of the Southwest, dependent very largely on one resource—the fertility of its soil—has called into being such lusty young giants as Wichita, Oklahoma City, Dallas, and other cities of that type. In the vicinity of Birmingham, a section which before the War was occupied mainly by cotton plantations—wherein there was nothing that could be properly called business—where generations came and passed to the Great Beyond and never saw the smoke of a factory or heard the hum of a busy mart of trade, today, with but one generation intervening, we find a live and prosperous modern city, the heart of a great industrial region. The change has come from developing three great natural resources, which up to the close of the War had been allowed to lie idle and unproductive—the forests, the coal and the iron.
Here again we find an example of the business dependence of natural resources one upon the other. The timber from the forests was needed for the mining of the coal, and the coal was needed in the manufactures from the iron ore; and again the forests in the development of means of transportation to the markets of the world.
So there is ample evidence that business activity follows promptly upon the intelligent development of natural resources, and decay with equal certainty follows the neglect or wasteful use of the capital which nature tenders us, and for the intelligent use of which she holds us strictly accountable.
I have frequently been asked by those who know our system of getting reliable information, "How do people over the country feel in regard to Conservation; are they in favor of it in all its aspects, or do they seem to be interested only in certain features?"